People who say that names are unimportant do not realize the kind of power they possess. Names and numbers have been revered and feared equally by some of the oldest civilizations of man. There are still places on the planet where highly educated individuals still believe that names and numbers are influential every single day of their lives.
Even if you do not subscribe to the idea of names and numbers having mystical powers, you cannot deny the fact that initials and numbers are all that high profile people tend to use on their clothes and accessories. Thus, in a way, the use of initials and numbers is often considered as a sign of class and power in its own right.